I as a General Rule of Thumb, If the Items

question 110

Multiple Choice

i. As a general rule of thumb, if the items selected for a sample are not replaced and the sample size is less than 5 percent of the population, the binomial distribution can be used to approximate the hypergeometric distribution. ii. If the probability of success does not remain the same from trial to trial when sampling is done without replacement, the hypergeometric distribution should be applied.
iii. In the hypergeometric distribution the probability of a success is not the same on each trail.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Interest

A fee charged for the opportunity to borrow money, commonly denoted as an annual percentage rate.

General Partner

An owner of a partnership who has unlimited liability and is typically involved in the daily operations of the business.

Management Responsibility

The obligation of organization leaders to make decisions, direct operations, and ensure the achievement of organizational goals.